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Orange Beach mayor touts fiscal reserves, infrastructure projects and property acquisitions
Summary
Mayor Tony delivered a state-of-the-city update outlining the city’s fiscal position, major infrastructure work (Canal Road East, multimodal paths, a proposed bypass), public-safety acquisitions, property purchases and upcoming community projects and events.
Mayor Tony used the town-hall portion of the meeting to review the city’s finances, infrastructure investments and planned projects.
He said city revenues and expenditures have been managed conservatively and that the city maintains substantial cash reserves; he cited an assessed property value of $1,880,000,000 and said the city’s debt capacity is roughly $300 million. "We have a full year's operating expenses in cash," Tony said, describing the reserve strategy built after the oil spill to protect services and staffing.
Tony reviewed completed and ongoing infrastructure projects, including the Canal Road East project and the city’s multimodal path program. He said the first phase of a 10-foot…
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